Coinbase Acquires UpOnly NFT for $25M, Revives Podcast
Coinbase has acquired the UpOnly NFT from Jordan “Cobie” Fish for 25 million USDC, marking one of the five largest NFT sales ever recorded. The on-chain purchase triggers a burn-to-revive clause obliging Cobie and co-host Ledger Status to produce eight new podcast episodes starting October 21, 2025. The UpOnly NFT purchase reflects a strategic NFT media play in Coinbase’s expanding content strategy. Following the announcement, memecoins UPONLY and COBIE on Coinbase’s Base network surged over 7,000%, while a Solana-based UPONLY token jumped 250% before correcting, highlighting the short-lived volatility typical of memecoin markets.
Neutral
The $25M UpOnly NFT acquisition is a strategic marketing play and triggers a podcast revival clause, but it involves no major protocol changes or token burns affecting circulating supply. While memecoins UPONLY and COBIE saw sharp, short-lived rallies and a Solana-based UPONLY token also spiked, prices quickly corrected. These moves reflect typical, speculative memecoin volatility rather than sustained upward momentum, leaving the overall market impact neutral.